Smartcraft Asa Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Red day on Friday for Smartcraft Asa stock after losing 1.90%
(Updated on Jun 28, 2024)
The Smartcraft Asa stock price fell by -1.90% on the last day (Friday, 28th Jun 2024) from kr31.60 to kr31.00. During the last trading day the stock fluctuated 3.55% from a day low at kr31.00 to a day high of kr32.10. The price has fallen in 5 of the last 10 days but is still up by 1.97% over the past 2 weeks. Volume fell on the last day along with the stock, which is actually a good sign as volume should follow the stock. On the last day, the trading volume fell by -771 thousand shares and in total, 52 thousand shares were bought and sold for approximately kr1.61 million.
The stock lies in the middle of a wide and strong rising trend in the short term and a further rise within the trend is signaled. Given the current short-term trend, the stock is expected to rise 10.74% during the next 3 months and, with a 90% probability hold a price between kr32.04 and kr35.86 at the end of this 3-month period.
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SMCRT.OL Signals & Forecast
The Smartcraft Asa stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at kr30.37 and kr29.12. A breakdown below any of these levels will issue sell signals. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Some negative signals were issued as well, and these may have some influence on the near short-term development. A sell signal was issued from a pivot top point on Thursday, June 27, 2024, and so far it has fallen -1.90%. Further fall is indicated until a new bottom pivot has been found. Volume fell together with the price during the last trading day and this reduces the overall risk as volume should follow the price movements.
Support, Risk & Stop-loss for Smartcraft Asa stock
Smartcraft Asa finds support from accumulated volume at kr29.70 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved kr1.10 between high and low, or 3.55%. For the last week, the stock has had daily average volatility of 2.97%.
Our recommended stop-loss: kr29.77 (-3.97%) (This stock has medium daily movements and this gives medium risk. There is a sell signal from a pivot top found 13 days ago.)
Trading Expectations (SMCRT.OL) For The Upcoming Trading Day Of Monday 1st
For the upcoming trading day on Monday, 1st we expect Smartcraft Asa to open at kr31.37, and during the day (based on 14 day Average True Range), to move between kr29.97 and kr32.03, which gives a possible trading interval of +/-kr1.03 (+/-3.34%) up or down from last closing price. If Smartcraft Asa takes out the full calculated possible swing range there will be an estimated 6.67% move between the lowest and the highest trading price during the day.
Since the stock is closer to the resistance from accumulated volume at kr31.60 (1.94%) than the support at kr29.70 (4.19%), our systems don't find the trading risk/reward intra-day attractive and any bets should be held until the stock is closer to the support level.
Is Smartcraft Asa stock A Buy?
Several short-term signals, along with a general good trend, are positive and we conclude that the current level may hold a buying opportunity as there is a fair chance for Smartcraft Asa stock to perform well in the short-term.
Current score: 1.549 Buy Candidate Unchanged
Predicted Opening Price for Smartcraft Asa of Monday, July 1, 2024
| Fair opening price July 1, 2024 | Current price |
|---|---|
| kr31.37 ( 1.18%) | kr31.00 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for SMCRT.OL
Fibonacci Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 32.47 | 4.73% |
| R2 | 32.05 | 3.38% |
| R1 | 31.79 | 2.54% |
| Price | 31.00 | |
| S1 | 30.95 | -0.173% |
| S2 | 30.69 | -1.01% |
| S3 | 30.27 | -2.37% |
Accumulated Volume Support & Resistance Levels
| Level | Price | |
|---|---|---|
| R3 | 0 | - |
| R2 | 0 | - |
| R1 | 31.60 | 1.94% |
| Price | 31.00 | |
| S1 | 29.70 | -4.19% |
| S2 | 29.50 | -4.84% |
| S3 | 27.50 | -11.29% |
FAQ
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